Pioneer Bank Merger is Successfully Completed
Pioneer Bancshares, Inc., the holding company for Pioneer Bank SSB, successfully completed its merger with FC Holdings, Inc., the holding company for First Community Bank N.A. effective March 1, 2016. The new Pioneer Bank exceeds $1 billion in total assets and operates 22 branches across Texas.
Pioneer Bank is now one of the largest banks headquartered in Central Texas. Jeffrey A. Wilkinson, Pioneer Bank's President and Chief Executive Officer, will lead the new Pioneer Bank; Ron Coben, formerly First Community Bank's Chief Operating Officer, is COO. The bank's Austin headquarters building is scheduled to open in Fall 2016 with an additional operations center in the Houston area.
"Pioneer Bank is growing and will continue to grow, but we care even more about our customers' growth," said Wilkinson. "Our scale provides larger lending limits, more convenient locations, and a better customer experience driven by better banking technology."
At December 31, 2015, the combined Pioneer Bank had total assets of $1.1 billion, total loans of $810 million, and total deposits of $938 million.